"We are finally free to look at the merits of individual companies. We are free to stop fearing that parts of the economy are too good," said Cramer. Fed Chair Janet Yellen relieved all fears of investors who expected that the Fed will change its stance on the interest rate hike. Cramer was happy to learn that Yellen is aware of the fragility of the U.S. economy and she is not ignorant like other officials who think that a rate hike is justified.

"The main thing we don't need to fear anymore is the super-freaking strong dollar soaring right in our faces. We know that concern is off the table because Yellen's had enough of other countries stealing our jobs and dumping their goods on our shores," said Cramer.

After this, many industries will be able to flourish. The strong dollar had hurt travel and tourism and the airline stocks as well. The dollar peaking will help airlines who have already been making money due to low input cost. Now investors will be more willing to pay for railroads in Cramer's opinion.

The tech companies will benefit as well since they have huge overseas business that was hurt by currency. Companies like Microsoft (NASDAQ:MSFT), Adobe (NASDAQ:ADBE), Salesforce.com (NYSE:CRM), Oracle (NYSE:ORCL) and Accenture (NYSE:ACN) will benefit when the dollar stops going higher.

Industrial stocks and housing stand to gain as well. That is why KB Home (NYSE:KBH) rallied after a great last quarter. "It's worth more dead than alive, meaning its real estate is more valuable than the company's current market cap, especially its amazing West Coast holdings," added Cramer.

Paychex is in the best position to give a first-hand view on the employment situation of the country. The company reported a good last quarter with 7% rise in revenue and its stock yields 3.1%. Cramer interviewed CEO Marty Mucci to hear his view before the employment report due on Friday.

Mucci mentioned that last quarter's growth came mostly from mid-market companies with more than 50 employees. The small business growth is good too. "Small business job growth looks like it's coming pretty well, we did moderate a little bit in checks. But overall I think things are going pretty good right now," he added.

The growth is coming from a rise in discretionary spending on things like hospitality and leisure. On the south and west coast, construction is picking up.

Mucci thinks that the company's human resource services are a good opportunity for the next leg of growth. As the regulations increase for things like Affordable Care Act and overtime, companies whether big or small will want Paychex's service.

Cramer thanks Janet Yellen

Fed Chair Janet Yellen changed her stance on the rate hike yet again. She made it clear in Tuesday that she is in no hurry and is taking a cautious approach. The last time the Fed raised rates in December, it had significant impact on the economy. The dollar spiked which put companies with international exposure at a disadvantage making them less competitive.

Another consequence of the rate hike was the wealth effect disappeared. The third impact was the oil and gas market collapse due to fear of rising debt and and lower oil prices. "Whatever, when the Fed raised rates, we began to hear about the horrendous losses the banks were going to experience, which, to me, was a tightening in its own right," said Cramer.

The fourth impact was foreign debt blowing up. Brazil could have imploded and European banks were taking the heat too. Retail companies were impacted as well.

"Yellen's speech, regardless of what happens with Friday's employment number, allows us to breathe easier going into earnings season," said Cramer.

Xerox has a history of under-performance in the last few quarters which led to Wall Street writing the stock off. The charts of the company show a different picture though. Cramer took the help of technician Bruce Kamich to find out his views on the technical side. Kamich said that the stock has rallied so much that it is above its 50-day and 200-day moving average. The stock could be on the verge of a major breakout. If the stock can reach $11, it could move to $13 quickly.

The company had announced it is splitting into two separate companies; one will be the document technology business and the second, a BPO business. "When I saw that the chart had turned positive, it made me wonder if perhaps this break-up might be enough of a needle-mover to make the stock actually worth owning," said Cramer.

The fundamentals also show that it is time to buy Xerox. Last November, activist Carl Icahn bought a 7.13% stake in the company to convince the board to unlock value. The company plans to break up and save $600M in costs over a three year period. This strategic transformation program makes sense to Cramer. He thinks that both the businesses can be leaders in their respective spaces after the break-up.

This break-up story is similar to Hewlett-Packard (NYSE:HPQ) in Cramer's opinion. HP did well after the break-up and Xerox can do the same. The stock is trading at 9.2 times earnings and pays a decent dividend.

Service Corp. International is the largest operator of funeral homes and cemeteries. Considering how fragmented this industry is, the company's 16% market share is huge. It has 2,000 locations across the U.S. and Canada and the company has a history of acquiring smaller companies to reduce competition. Cramer interviewed chairman and CEO Tom Ryan to hear more.

Ryan mentioned that funeral home businesses are still family-owned businesses, and when they are up for sale, Service Corp. acquires them. Apart from that, the company is using excess capital to buy back stock and reward shareholders.

Ryan said that Service Corp.'s objective is to make the grieving process as easy as possible and they have understanding of different cultures and religions. This is a high cash flow business and the company is in the process of restructuring their balance sheet.